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Romania: ADX Energy provides update on well test operations at the Iecea Mica-1 well, onshore Romania

29 Jun 2020

Photo - see caption

Key Points:

  • Workover Rig has been mobilised and rigged up according to schedule.
  • Production Equipment is being run into the well with perforation equipment required toinitiate well production and flow testing.
  • Flow Testing is expected to commence next week.
  • Further Operations Updates to be provided following the commencement of flow testing.

ADX Energy has advised that work over rig mobilisation and set up has been completed at the Iecea Mica-1 (IMIC-1) well site at the Iecea Mare Production License onshore Romania. The production equipment required to flow test the well is currently being run into the well together with perforation equipment required to initiate flow from the well. Well flow will be initiated utilising underbalanced perforation to maximise inflow and clean up with a view to maximising well productivity.

Photo - see caption
Preparation of perforation equipment prior to running into IMIC-1 well

Production testing will commence following the running of the production string and perforation of the well. ADX will provide further updates following the commencement of flow testing.

Background Regarding IMIC -1 Drilling Results and Testing Objectives

The IMIC -1 well encountered gas across three zones with a combined total arithmetic sum for the three zones of 20 BCF 2C contingentresources estimated (refer to table below). The well was suspended for future completion as a producer following testing. Testing has been deferred until down hole well production equipment was manufactured and then further delayed due to borderclosures caused by the Covid-19 pandemic which have prevented testing operations until now.

Testing will concentrate on the PA IV sand (Pliocene age) which is a proven reservoir and has the greatest upside reserves potential of the 3 hydrocarbon bearing reservoir intervals intersected in the IMIC-1 well (refer to table below). This reservoir unit has a large stratigraphic upside potential which will be further quantified in the near future with the planned high resolution 2D seismic program scheduled for the third quarter of 2020.

The testing program has been designed to determine the production capacity of the well through multiple flow rate measurements and pressure build up response measurements. Produced gas will be sampled to determine the suitability of the IMIC-1 gas composition for commercial sales. The expectation based on mudlog data and nearby analogues is that a dry gas will be produced which will require minimal processing prior to market delivery.

Following the completion of the production testing program the well will be shut in awaiting commercial production at a future time.

Photo - see caption

Gas Commercialisation Studies

Engineering studies are ongoing to determine the potential viability of two development optionsincluding the delivery of sales gas to the grid at the nearby Satchinez-Calacea Gas Plant or alternately the conversion of produced gas to power and the connection to a high voltage power line located approximately 2km from the IMIC-1 location. The production test results will provide important information required for the finalisation of feasibility studies.

Photo - see caption

Gas Resource Assessment

The resource potential of the three gas reservoirs intersected at IMIC -1 will be further assessed utilising high resolution 2D seismic that will be acquired across IMIC-1 and potential IMIC-2 accumulations. The appraisal seismic is expected to better define the extent of gas zones where ADX has interpreted substantial stratigraphic resource upside (refer to ASX announcement on 9 September 2019). The appraisal seismic will be acquired in conjunction with the planned 3D seismic program during the 3rd quarter of 2020 in close proximity to the IMIC -1 and the IMIC-2 wells.

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Location Map showing IMIC-1 location and the surrounding Parta exploration license

Asset Ownership Structure

ADX holds a 49% shareholding in Danube Petroleum Limited (Danube). The remaining shareholding in Danube is held by Reabold Resources PLC. Danube via its Romanian subsidiary, ADX Energy Panonia srl, holds:

  • a 100% interest in the Parta Exploration license in Romania (including a 100% interest in the Parta Sole Risk Area). Upon completion of a farmin by Tamaska Oil & Gas Limited’s subsidiary Parta Energy, Danube will hold a 50% interest in the Parta Exploration License; and
  • a 100% interest in the Iecea Mare Production license in Romania (which hosts the IMIC-1 well and future IMIC-2 well).

Original article link

Source: ADX Energy

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